The 7 day centered moving average is only exceeded by the April 2 and April 23 observations (the latter is “bleach”, if you are wondering).

Figure 1: EPU (blue, left scale), and centered 7 day moving average (red, right scale), Source: policyuncertainty.com, and author’s calculations.

Keep reading this article on Econbrowser Blog - James Hamilton & Menzie Chinn.

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